A $10mn placement to Drake would represent 14.5% of the company - I don't believe this is possible given the 20% threshold. There is a 3% provision for every 6 months, which would equate to a circa $2mn placement. I'm potentially missing something here? Happy to be corrected.
Nonetheless, I'm leaning towards Drake's camp. My ability to trust current management is rapidly fading...
A $10mn placement to Drake would represent 14.5% of the company...
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Last
35.5¢ |
Change
0.005(1.43%) |
Mkt cap ! $48.56M | |||
| Open | High | Low | Value | Volume |
| 36.0¢ | 36.0¢ | 35.0¢ | $14.50K | 40.89K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 10500 | 35.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 39.0¢ | 10000 | 1 |
View Market Depth
| Last trade - 15.51pm 02/05/2024 (20 minute delay) ? |
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Last
35.5¢ |
Change
0.005 ( 1.43 %) |
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| Open | High | Low | Volume | ||
| 35.0¢ | 35.5¢ | 35.0¢ | 4167 | ||
| Last updated 14.45pm 02/05/2024 ? | |||||
| SMN (ASX) Chart |